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A few days ago, Australia's South32 said it had agreed to acquire a 50% stake in the Eagle Downs metallurgical coal project in Queensland from China's Baowu Steel Group, with an advance payment of $106 million
.
Australia's South32 acquires a 50% stake in Baowu Iron and Steel Metallurgical Coal Project
South32 said in a statement that through the acquisition, the company will become the project operator
.
The acquisition includes a $27 million deferred payment and up to $80 million in coal price-linked production licensing fees
.
Baowu steel subsidiary Aquila Resources Pty Ltd will continue to hold the remaining 50% stake
in Eagle Downs.
South32 CEO Graham Kerr said the acquisition will deepen South32's long-term relationship
with Baowu Steel.
As the world's largest manganese producer, South32 plans to fund the transaction through cash reserves, with a definitive feasibility study proposed upon completion of the transaction in order to optimize the mine's design and development
.
，
A few days ago, Australia's South32 said it had agreed to acquire a 50% stake in the Eagle Downs metallurgical coal project in Queensland from China's Baowu Steel Group, with an advance payment of $106 million
.
Australia's South32 acquires a 50% stake in Baowu Iron and Steel Metallurgical Coal Project
Australia's South32 acquires a 50% stake in Baowu Iron and Steel Metallurgical Coal ProjectSouth32 said in a statement that through the acquisition, the company will become the project operator
.
The acquisition includes a $27 million deferred payment and up to $80 million in coal price-linked production licensing fees
.
Baowu steel subsidiary Aquila Resources Pty Ltd will continue to hold the remaining 50% stake
in Eagle Downs.
South32 CEO Graham Kerr said the acquisition will deepen South32's long-term relationship
with Baowu Steel.
As the world's largest manganese producer, South32 plans to fund the transaction through cash reserves, with a definitive feasibility study proposed upon completion of the transaction in order to optimize the mine's design and development
.
，
